For many entrepreneurs, the idea of getting a second hustle seems efficient. Most people convert their hobbies into a second business. As an entrepreneur, you may have an idea of the...
Giving out a on rent room is another way to earn extra money. Many people now rent out an apartment or a room either for an office or for other functions. If you want to rent out...
Everyone seems to have side hustles these days, but is your side hustle a hobby, trade, or a business? Even if you consider your hobby business in the United States, the IRS may disagree...
Business losses reduce taxable income and many good freelance businesses incur losses which is somewhat a good thing since it means you pay less in taxes. A business loss could mean...
There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...